Surge in Exports of South Korean Snacks and Beverages Driven by Global Interest in Korean Cuisine
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Seoul, Jan 1 (NationPress) The export figures for Korean snacks and beverages have shown substantial growth last year, propelled by the rising international appeal of Korean cuisine, as per data from the government revealed on Wednesday.
During the initial 11 months of 2024, outbound shipments of snacks and confectionery hit an all-time high of US$706 million, marking an increase of 16.5 percent compared to the previous year, according to the Ministry of Agriculture, Food, and Rural Affairs.
Similarly, overseas sales of beverages soared by 14.9 percent year-on-year, reaching a new peak of $609 million during the same timeframe, fueled by strong demand from China, the United States, and Japan, as reported by Yonhap news agency.
In response to this trend, South Korean confectionery firms are actively broadening their reach in international markets to capitalize on the rising demand.
Lotte Wellfood Co. announced that overseas sales of its signature chocolate sticks, Pepero, have outstripped domestic sales for the first time in the first half of 2024.
To further enhance production capabilities and satisfy global demand, the company is set to launch a new Pepero manufacturing facility in India starting in the latter half of this year.
Orion Corp. is contemplating the establishment of a factory for its well-loved Turtle Chips in the U.S. to cater to increasing demand.
Additionally, snacks accounted for the largest segment of the exports. Notably, the export of baked goods, including pies, surged by 18.9 percent year-on-year, driven by the popularity of unique items such as steamed buns and fish-shaped pastries.
This growth is largely credited to the expanding influence of K-pop culture, which has ignited a greater global interest in local culinary offerings.
Furthermore, South Korea's exports of agricultural products reached a record high in the first nine months of 2024, primarily driven by robust demand for instant noodles, snacks, and beverage items.
